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Allianz to invest €140m in Irish property market

Allianz Real Estate, the international real estate division of Allianz Group with €30bn in assets under management, has committed to invest €140m in IPUT, the largest unlisted debt-free property fund in Ireland. IPUT currently manages over 90 portfolios, valued at more than €1bn, including 43 prime office property in Dublin’s central business district valued at €775m.  Most recently, it acquired a portfolio of Dublin-based assets, known as the Salix portfolio, from the Bank of Ireland staff pension fund for an all cash payment of €115m.